Credit Card - No Salary but Interest + Stock Dividends

Fed

I have no financial need for a credit card but some things prove difficult without one, trying to book a hire car abroad required one.  It might also be wise when making big purchases like flights to use one for the added protection.  My problem is that I have no recognised income (gamble for a living) but I do receive interest from savings and dividends from my passive investments.  I spoke to Nationwide and they weren't sure if they would accept it, I can select unemployed on the application form and still enter an income although it doesn't state to include interest and dividends.  I'm tempted to try it but don't want a rejection on my credit record.  Are there any reputable providers that would include it as income?  It was included when we did a mortgage application fwiw.

[Deleted User]

If you can justify it as an income, then it shouldn't be a problem. Worst case is that they query it and reject it.

You won't get a rejection on your files, as the results aren't shown.

PRAISETHESUN

I'd give it a shot anyway - a single hard search on your files every few months is usually nothing to worry about. The interest/dividends are definitely income. I would probably put "unemployed" and then state your interest/dividend payments under "other household income". The lender may want to see evidence of the funds, but as long as you demonstrate these there shouldn't be an issue in my mind.

Sandtree

There is sometimes the option for "independent means".

At the end of the day answer the questions they ask honestly, if they ask for salary then the answer is 0. If they ask for income then you can include things like investment returns as long as they are regular etc.

MinuteNoodles

Dividends are not guaranteed. Interest is also at the whim of the bank paying it and they've all been lowering what they pay.

Grumpy_chap

Fed said:

enter an income although it doesn't state to include interest and dividends. 

Does the form state to exclude interest and dividends?    If not, include it.

Voyager2002

I think you should describe yourself as self-employed, and include your total income (including your average gambling profits over the last three years).

Come to that, you ought to telephone HMRC and register as self-employed. That would mean completing a tax return each year, but since gambling profits are not taxable you would be submitting the simplest tax return in history, a task you could probably compete in ten minutes.

Malkytheheed

Dont put unemployed. It has real world negative connotations. Can't you select investor? 

Fed

MinuteNoodles said:

Dividends are not guaranteed. Interest is also at the whim of the bank paying it and they've all been lowering what they pay.

Neither is a salary, in fact i'd argue dividends and interest are more secure since salary is just a promise of future earnings.Grumpy_chap said:

Fed said:

enter an income although it doesn't state to include interest and dividends. 

Does the form state to exclude interest and dividends?    If not, include it.

No, it states a few other things you can include like pensions etc but doesn't say either way otherwise.  Voyager2002 said:

I think you should describe yourself as self-employed, and include your total income (including your average gambling profits over the last three years).

Come to that, you ought to telephone HMRC and register as self-employed. That would mean completing a tax return each year, but since gambling profits are not taxable you would be submitting the simplest tax return in history, a task you could probably compete in ten minutes.

I don't believe I qualify as self employed.  Because as you say gambling profits are not taxable that then means it doesn't qualify as an occupation.  I do complete a tax return which includes the interest and dividends

Malkytheheed said:

Dont put unemployed. It has real world negative connotations. Can't you select investor? 

Indeed.  There's no option for that, I can select home maker although whether you have to have children to qualify as that I don't know.  I'll give it a go

Fed

Just tried with Home Maker and their soft check says it would be declined 

Migster

The Halifax application has "Not Working (Independent Means)" as an option